Christopher Deming's Blog

This debate originally aired March 29, 2011 at 7 pm on Northwood University Michigan campus.

One of the biggest frustrations I’ve had in my academic career was a negligent and ultimately misinforming high school economics experience. Even with my apathy towards the subject in comparison to literature and English, it seemed like a remarkable waste of time.  I learned how to manage a stock portfolio (thank goodness for the specialization of labor; there are people in the world tremendously more effective at this). I learned how to fill out a W-2 like a good statist. I learned to balance a checkbook (ok, so it wasn’t all bad). But, if you had asked me at that point the top-ten list of my preferred professions, economics wouldn’t be in the same zip code of my list.  Since then, I’ve been working on undergraduate campuses to spread the ideas of free markets.  But I’ve always thought, “What would happen to the undergraduate campuses if public high school economics reflected free market principles?” Authors Tawni H. Ferrarini, James D. Gwartney, and John S. Morton did a comprehensive study of high school economics curricula, especially that provided for advanced placement courses. They report:

The AP economics courses and exams present an imbalanced view. They leave many of our brightest high school students with misleading impressions of both economics and how a society can get the most out of its resources. AP economics focuses on mechanics rather than economic reasoning. The vitally important roles of secure property rights, dynamic competition, entrepreneurship, and innovation as sources of growth and prosperity are almost totally ignored by AP economics. Moreover, students are presented with a highly imbalanced view of markets versus government. Market failure is covered, but government failure is totally omitted. Students are left with a false impression of how the political process works and a lack of understanding of why government intervention often leads to outcomes that are dramatically different than those promised by politicians. The cause of economic enlightenment is poorly served by these omissions and imbalances.

We may soon be able to find out what happens when the content changes.  In my graduate program, I met an enthusiastic individual named Adam Vallus. He explained to me when I met him that he was a high school economics teacher, and was in this program to learn more foundational aspects of free markets (our program focuses on the Austrian tradition). As we continued to stay in contact, Adam mentioned how frustrated he felt with the curriculum requirements. He managed to find a text book that met the school’s requirements, and he described it as “not awful.” But he still wanted to impart to the students the real wisdom in economics.  We came to a solution: “The Economics of Freedom.”

With the help of Students for Liberty, early this academic year I received copies of their edition of the selected works of Bastiat. Originally intended for undergraduates, this brief but incredibly enlightening book has found a new audience.

I’m encouraged by Adam’s dedication to free market ideals. I’m even more hopeful that the students in his classes will be positively changed because of him. I look forward to a time when he, and hopefully others, make my job that much easier.

 This special event is being sponsored by the Atlas Economic Research Foundation, the Mackinac Center for Public Policy, the Forum for Citizenship and Enterprise and Students for a Free Economy. This will definitely be a debate to see. Please e-mail sfe@mackinac.org with any questions!

Arguing for the Gold Standard:
Dr. Richard M. Ebeling
Professor of Economics, Northwood University
Author of Political Economy, Public Policy and Monetary Economics: Ludwig von Mises and the Austrian Tradition
 
Arguing Against the Gold Standard:
Dr. Robert B. Barsky
Professor of Economics, University of Michigan (Ann Arbor)
Monetary Economics Program, National Bureau of Economic Research
 
Tuesday, March 29, 2011
7:00 pm
Griswold Lecture Hall
Northwood University
4000 Whiting Drive
Midland, Michigan